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Remuneration Of Mervyn King

EDM number 2094 in 2007-08, proposed by Lynne Jones on 17/07/2008.
Categorised under the topics of Employment, Incomes and poverty and Pay.

That this House welcomes the decision of Mervyn King to turn down a pay rise of nearly £100,000 at the beginning of his second five year term as Governor of the Bank of England, noting that Mr King opted to take an increase of 2.5 per cent. on his 2007-08 remuneration of £289,551 instead of accepting pay of between £375,000 and £400,000, as recommended by an external review of senior bank salaries; contrasts Mervyn King's rate of pay with that of Hector Sants, Chief Executive of the Financial Services Authority, who was paid a total of £661,948 in the most recent financial year, and the multi-million remuneration packages given out in the private sector; believes that Mervyn King's accrued pension rights at £179,200 per annum will be more than sufficient for a comfortable retirement; and further notes that happiness cannot be guaranteed by huge wealth and it is time to challenge the perceived correlation between income and status.

This motion has been signed by a total of 19 MPs.

Lynne Jones17/07/2008Birmingham, Selly OakLabourProposed
Rudi Vis21/07/2008Finchley and Golders GreenLabourSeconded
Andrew Dismore21/07/2008HendonLabourSeconded
Ken Purchase21/07/2008Wolverhampton North EastLabourSeconded
Gordon Prentice21/07/2008PendleLabourSeconded
Ann Cryer21/07/2008KeighleyLabourSeconded
Kelvin Hopkins21/07/2008Luton NorthLabourSigned
John McDonnell21/07/2008Hayes and HarlingtonLabourSigned
David Taylor21/07/2008North West LeicestershireLabourSigned
Alan Simpson22/07/2008Nottingham SouthLabourSigned
Ian Gibson22/07/2008Norwich NorthLabourSigned
David Drew22/07/2008StroudLabourSigned
Janet Dean22/07/2008BurtonLabourSigned
Jeremy Corbyn22/07/2008Islington NorthLabourSigned
Martin Caton22/07/2008GowerLabourSigned
Brian Jenkins22/07/2008TamworthLabourSigned
Robert Wareing06/10/2008Liverpool, West DerbyIndependentSigned
Dai Davies07/10/2008Blaenau GwentIndependentSigned
Eric Illsley16/10/2008Barnsley CentralLabourSigned

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